Stock Traders Purchase High Volume of Call Options on Ocean Power Technologies (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) was the target of unusually large options trading on Thursday. Traders bought 5,605 call options on the company. This is an increase of approximately 120% compared to the typical volume of 2,545 call options.

Hedge Funds Weigh In On Ocean Power Technologies

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC bought a new position in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned about 0.20% of Ocean Power Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 11.93% of the stock is owned by hedge funds and other institutional investors.

Ocean Power Technologies Price Performance

OPTT stock opened at $0.48 on Friday. The stock has a market capitalization of $69.63 million, a P/E ratio of -1.19 and a beta of 2.85. Ocean Power Technologies has a 1-year low of $0.12 and a 1-year high of $0.82. The business has a fifty day moving average price of $0.25 and a 200-day moving average price of $0.23.

Ocean Power Technologies Company Profile

Ocean Power Technologies, Inc develops and commercializes proprietary power platforms that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Australia, and Asia. It offers PB3 PowerBuoy that generates power for use independent of the power grid in offshore locations.